The maiden fund, whose corpus has not been disclosed, was anchored by Sood and Neeraj Arora, the former chief business officer at VOIP platform WhatsApp.
Executives say scale of layoffs ‘far larger’ than expected but Oyo denies any such plan.
Verlinvest, which has largely made direct investments in India and counts companies such as Byju’s, Veeba, Epigamia and Future Retail among its portfolio, has also backed certain funds, including those operated by Everstone Capital and DSG Consumer Partners..
The investor bringing on board British development finance institution CDC as an anchor investor in its latest vehicle.
Funding tap is open for a host of ventures Sequoia Capital, Ribbit Capital, others pitch in.
While the terms of the transaction were not disclosed, other investors that have also participated in the latest round include Das42 Capital and 91Springboard, the company said in a prepared statement.
The investment, which has a small secondary component as well, is the first institutional funding round raised by the six-year-old Boston and Mumbai-based company.
The multi-family advisory firm will use part of the proceeds to establish its presence in New York, Singapore and Dubai, with the rest going towards hiring top talent and enhancing its platforms.
The announcement comes a week after ET, citing sources, had reported that the four-year-old company, founded by Abhay Hanjura and Vivek Gupta, was in advanced stages to close up to $30 million in equity financing in a round led by Vertex Growth, which announced the final close of its inaugural investment vehicle at $290 million in September this year.
Oyo, Ola, Freshworks, Flipkart and Paytm are mong leading home-grown tech ventures that have brought in industry veterans to address compliance and governance issues.
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